Walker, Janice | Principal Broker | Hope, AR

08/12/2013 | Hearing No. 3262

Respondent: Janice Walker, Principal Broker, Walker Realty, Hope, AR, Formal Hearing # 3262

Violations: A.C.A. 17-42-311(a)(2) and AREC Commission Regulations 9.2(b), 10.8(g)(3), 10.9(a) and 10.9(d).

Sanctions: Letter of Reprimand, Additional 30 hours of post-license broker education, and $500 fine

Respondent Walker did not file a written answer to a complaint within 20 days after receiving notice of the complaint, did not permit AREC investigative staff open inspection to Respondent’s trust fund records and bank reconciliations, dispersed funds from Respondent’s designated trust account contrary to the terms of the contract, and made a disbursement to which all parties to the contract had not expressly agreed in writing nor did Respondent notify all parties in writing of the disbursement.